The cloud market is growing rapidly and represents an important opportunity for the retail and IT giant. The overall cloud services market is expected to experience a compound average growth rate of 13.4 percent between 2016 and 2020, with cloud infrastructure and platform services expected to grow at a rate of 23.3 percent and 18.2 percent respectively. In terms of market size, these individual cloud service segments are expected, by 2020, to achieve revenues of 99.7 billion U.S. dollars (SaaS), 14.8 billion U.S. dollars (PaaS), and 72.4 billion U.S. dollars (https://www.statista.com/statistics/505251/worldwide-infrastructure-as-a-service-revenue/).
As of 2017, AWS was ranked among the four largest public cloud providers in the world, along with Google Cloud, Microsoft Azure and IBM Softlayer. AWS is also ranked as one of the leading information technology (IT) companies in the world, by revenue. Specifically in the infrastructure as a service market, AWS has been noted to have a majority of the market worldwide. Amazon's share of the IaaS segment was estimated at 44.2 percent. For Amazon, AWS's IaaS revenue raked in 9.7 billion U.S. dollars in 2016.